Ann: Hawsons Iron Project The Path Forward, page-339

I'd rather they seek funds elsewhere than another JV. That's what stuffed them up last time and selling 40% for only $30m really doesn't do the project justice...With record iron ore prices they should be able to do much better and an offtake or two is the way to go imo...They signalled their intentions a few years ago that they wouldn't dilute shareholders and rather go down the offtake route, after signing an agreement with mitsui and co. They also keep stating the offtake demand for hawsons is 14mtpa